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Robert Higgs, senior fellow at the Independent Institute and author of Depression, War and Cold War, discusses the archaic concept of demobilizing the military after a war, the end of staunch U.S. anti-interventionism, how the Korean War budget was partly diverted to a general cold-war buildup and the resemblance of U.S. defense spending to a politically untouchable welfare program.

Podcast: Play in new window | Download (Duration: 27:33 — 6.3MB)